Portland, Oregon is a unique blend of wild nature and funky urban cityscapes. For homeowners of Portland, however, this picturesque landscape comes with some potential threats — including wildfires, flooding, landslides — highlighting the importance of homeowners insurance and additional protection like flood or earthquake insurance.
The average cost of homeowners insurance in Portland is $858 per year or $72 a month. This is around 10% lower than the statewide average of $943 per year, and about 55% lower than the national average of $1,899.
However, cost isn’t the only factor to consider when choosing a home insurance company. Not sure what to look for? Policygenius can help you figure out your coverage needs and compare quotes from multiple top companies in Portland.
Best homeowners insurance companies in Portland
Of the companies we looked at, USAA has the lowest rate, with an average annual cost of only $837. Not far behind is State Farm with a slightly higher average annual cost at just $877.
Both USAA and State Farm perform exceptionally well in customer and claim satisfaction ratings with J.D. Power, which rates companies based on things like price, customer service, billing, and claims handling.
Policygenius analyzed thousands of quotes from the 5 largest Portland insurers to find the average cost of homeowners insurance with each company in 2022. We then looked at 2021 J.D. Power customer satisfaction scores and compared that with the coverage needs of Portland residents to find the best homeowners insurance in Portland.
Company | Average yearly cost | J.D. Power Rating |
---|---|---|
State Farm | $877 | 835 |
Farmers | $960 | 813 |
USAA | $837 | 882 |
Allstate | $1,034 | 829 |
American Family | $664 | 831 |
Why State Farm tops our best list
State Farm tops our best list because of the numerous add-on coverages it offers. Portland residents could benefit greatly from State Farm’s water backup coverage — especially those living in older homes with aging plumbing systems. Not only that, State Farm makes it easier to file and track your claim. You can submit a claim either online, over the phone, on the mobile app, or even in person.
How to get a quote
Online through State Farm
Why Farmers tops our best list
We love companies that give customers a variety of customizable home insurance policy options, and Farmers does this in flying colors. Portland residents can choose from 3 flexible coverage packages that meet the coverage and budget needs of most people. Couple that with extensive discount options — including affinity discounts for teachers, nurses, and first responders — and Farmers is a great option for most Portland residents.
How to get a quote
Online through Farmers
Why USAA tops our best list
USAA only provides coverage to military members and their families, but if that applies to you, then USAA might be the perfect fit. USAA offers great coverage options at affordable prices. Plus, they have a long list of available discounts to make those monthly premiums even more affordable.
How to get a quote
Online through USAA
Why Allstate tops our best list
Portland residents looking to combine their home and auto insurance and save hundreds should look to Allstate for coverage. On top of those savings, Allstate has many useful coverage add-ons, like mold and water backup protection which are helpful in the event of water damage.
How to get a quote
Online through Policygenius or Allstate
Why American Family tops our best list
American Family offers customers the benefit of declining deductibles, which reduces $100 from your deductible each year you go without filing a claim. To save even more, American Family offers substantial savings for customers who bundle their home and auto insurance.
How to get a quote
Online through American Family
Cheapest homeowners insurance companies by ZIP code in Portland
Looking at average home insurance costs for 15 of the most popular companies in Portland, we found that the cheapest home insurance in the city can be found in the 97210 ZIP code (Nob Hill and Hillside neighborhoods) with Auto-Owners Insurance. The average Auto-Owners Insurance rate in this area is $494 per year — less than the city average of $858 per year.
ZIP code | Company | Average yearly cost |
---|---|---|
97201 | Auto-Owners Insurance | $529 |
97202 | Auto-Owners Insurance | $542 |
97203 | Auto-Owners Insurance | $482 |
97204 | Auto-Owners Insurance | $551 |
97205 | Auto-Owners Insurance | $579 |
97206 | Auto-Owners Insurance | $552 |
97209 | Auto-Owners Insurance | $484 |
97210 | Auto-Owners Insurance | $494 |
97211 | Auto-Owners Insurance | $511 |
97212 | Auto-Owners Insurance | $488 |
97213 | Auto-Owners Insurance | $498 |
97214 | Auto-Owners Insurance | $464 |
97215 | Auto-Owners Insurance | $539 |
97216 | Auto-Owners Insurance | $543 |
97217 | Auto-Owners Insurance | $509 |
97218 | Auto-Owners Insurance | $504 |
97219 | Auto-Owners Insurance | $533 |
97220 | Auto-Owners Insurance | $504 |
97221 | Auto-Owners Insurance | $537 |
97227 | Auto-Owners Insurance | $489 |
97230 | Auto-Owners Insurance | $515 |
97231 | Auto-Owners Insurance | $621 |
97232 | Auto-Owners Insurance | $461 |
97233 | Auto-Owners Insurance | $489 |
97236 | Auto-Owners Insurance | $539 |
97239 | Auto-Owners Insurance | $554 |
97258 | Auto-Owners Insurance | $554 |
97266 | Auto-Owners Insurance | $516 |
The most affordable areas for homeowners insurance in Portland
With an average home insurance rate of $831 per year, the 97219 ZIP code (South Burlingame), is the most affordable area for home insurance in Portland. South Burlingame is more central to the Portland area and has a higher median home value, but the rates are still among the lowest in the city.
ZIP code | Average yearly cost |
---|---|
97219 | $831 |
97202 | $831 |
97214 | $837 |
97217 | $843 |
97215 | $844 |
The most expensive areas for homeowners insurance in Portland
With an average home insurance rate of $890, the 97258 ZIP code (downtown Portland) is the most expensive area for home insurance in Portland. The increased population density and crime rate could explain the higher-than-average premiums.
ZIP code | Average yearly cost |
---|---|
97258 | $890 |
97205 | $882 |
97231 | $879 |
97233 | $878 |
97236 | $870 |
Shopping for homeowners insurance in Portland
When shopping for your next homeowners insurance policy, you'll want to make sure you have the coverage you’re being quoted on aligns with what you actually need so that you get a more accurate rate comparison.
In this section, we break down the average annual home insurance rates in Portland for different coverage and deductible levels, as well as the cheapest and most expensive home insurance companies in the state for individuals with a poor credit score, dog owners, and pool owners. Once you’re ready to shop, a Policygenius expert can help you navigate your coverage needs and help you find the best deal on homeowners insurance in Portland.
Portland home insurance costs by coverage amounts
Dwelling coverage is the part of your policy that covers the physical structure of your home and anything attached to it. When determining the right dwelling coverage amount, it's important to consider your home's total replacement cost.
As the table below highlights, more dwelling coverage usually means higher homeowners insurance rates. In Portland, the biggest jump in average yearly cost comes between the $400,000 and $500,000 ranges of coverage.
Dwelling coverage amount | Average yearly cost |
---|---|
$100,000 | $489 |
$200,000 | $673 |
$300,000 | $858 |
$400,000 | $1,075 |
$500,000 | $1,306 |
Another part of any homeowners insurance policy is liability coverage. This is the part of your policy that pays for medical or legal bills in case you’re responsible for someone’s injury or property damage.
The table below shows the relationship between liability coverage amounts and average yearly costs. Unlike dwelling coverage, more coverage doesn't necessarily mean higher average costs.
Liability coverage amount | Average yearly cost |
---|---|
$100,000 | $840 |
$200,000 | $951 |
$300,000 | $858 |
$400,000 | $650 |
$500,000 | $902 |
Portland home insurance costs by deductible amount
Every homeowners insurance policy includes a deductible — the predetermined amount of money you are responsible for paying when you file a claim. Any covered loss over that amount is covered by your insurance provider.
As seen in the table below, Portland residents can save around $100 on home insurance by choosing a $1,000 deductible over the $500 option.
Deductible amount | Average yearly cost |
---|---|
$500 | $946 |
$1,000 | $858 |
$2,000 | $896 |
Home insurance discounts in Portland
Many insurers apply discounts to your policy if your home has safety or security features like deadbolts, smoke alarms, and burglar alarms. Because Portland has a higher crime rate, these security measures will not only help save you money, but they will also help keep you and your home safer.
While you won’t get a huge discount if your house has one of the following features and nothing else, they can add up if you have several protective devices in your home. Here is the average annual rate and average discount percentage for homes in Portland with deadbolts, smoke alarms, or burglar alarms.
Discount | Average yearly cost |
---|---|
Dead bolt | $858 |
Smoke alarm | $858 |
Burglar alarm | $829 |
Home insurance companies in Portland for dog owners
Some Portland dog owners could see higher rates because of the dog breed they own. Some insurance companies consider certain dog breeds more aggressive or dangerous and a higher liability risk, so insurers will often factor this into rates.
With an average rate of $637 per year, American Family has the cheapest home insurance rates in Portland for a home with a dangerous dog breed, while Allstate’s average yearly premium of $1,034 is the highest.
Company | Average yearly cost |
---|---|
American Family | $674 |
USAA | $837 |
State Farm | $877 |
Farmers | $960 |
Allstate | $1,034 |
Home insurance companies in Portland for poor credit
Poor credit scores can also lead to higher home insurance rates. Insurance companies consider customers with low credit scores to be more likely to file claims for small damages or losses, so providers will take this into consideration when setting rates.
With an average rate of $1,067 per year, American Family has the cheapest home insurance rates in Portland for a homeowner with poor credit, while Farmers’s average yearly premium of $2,300 is the highest.
Company | Average yearly cost |
---|---|
American Family | $1,067 |
State Farm | $1,500 |
Allstate | $1,798 |
USAA | $1,901 |
Farmers | $2,300 |
Home insurance companies in Portland for pool owners
Backyard pools put owners at greater risk of filing a liability claim and that is often reflected in home insurance rates. But there are plenty of companies that put less of an emphasis on this when setting your rates, so make sure to shop around and compare policy options.
With an average rate of $671 per year, American Family has the cheapest home insurance rates for Portland homes that have a swimming pool, while Allstate’s average yearly premium of $1,034 is the most expensive.
Company | Average yearly cost |
---|---|
American Family | $671 |
USAA | $837 |
State Farm | $877 |
Farmers | $960 |
Allstate | $1,034 |
How to buy homeowners insurance in Portland
Here are a few steps to follow as you shop for homeowners insurance in Portland.
Reach out to a licensed Policygenius agent. Our team of license insurance experts are ready to help you find the right coverage at the right price without skimping on coverage.
Ask about Oregon's FAIR plan coverage options. If you are at higher risk of wildfire or severe weather and you’re struggling to find coverage through a traditional insurance company, ask your Policygenius agent about getting coverage through the Oregon FAIR Plan.
Consider purchasing flood insurance. Depending on your proximity to the coast, you could be at a higher risk of flood or water damage. Standard homeowners policies don't cover flooding, so it's important to add that coverage or purchase a separate policy specific for flooding if you live in a high-risk area.
Figure out how much you can afford to pay for your deductible. A higher deductible means lower rates and short-term savings, but it also means you’ll be paying more out of pocket in the event of a claim. Take this into consideration when setting your deductible.
Compare quotes from a Policygenius agent. Once you get your coverage needs established and input a few details about your home, a Policygenius agent will walk you through quotes from multiple companies to help you find the right policy at the best price.
Choose your policy, sign it, and pay your first premium. The only thing left to do is sign your policy and pay your first premium. A Policygenius agent will complete all the paperwork for you and even cancel any existing policies.